All Forum Posts by: Alberto Artasanchez

Advantage: Having multiple LLC's create a layer of protection between the LLC's.

Disavantange: You will have to pay separate tax preparation and filing fees for each entity.

@Andrew Jacobson 

I am not an accountant. Consult with you accountant. However, this post answers your question:

http://www.biggerpockets.com/forums/51/topics/142582-tax-implications-of-seller-financing-via-note

@Jay Hinrichs 

Thanks for the reply

@Jay Hinrichs 

I believe you are right. I don't know that much about it, but my understanding is that the Canadian real estate and mortgage business is totally different. For one, I believe that there are no 30 year mortgages and you have to refi every 5 years. It would be great if someone with more knowledge of the Canadian system chimed in to confirm.

@John Matthews 

As @Elizabeth Colegrove elegantly put it, it really depends on your risk tolerance and the amount of money you put in. You can get low single digit returns in property and notes with very little work and a lot of safety or you can double your money in a year if you are willing to put in the work and increase your risk profile. For both properties and notes, the only way you can realistically get these kind of returns is by buying the asset in a distressed state, rehabbing it and flipping it to an investor.

@Val Garrow 

Is there any room for negotiating and get my assessment fee or is it a dead end?

Everything is negotiable.

How do I get paid!? 

Other folks might comment on how to make it tighter but just make sure to get agreements in writing.

How do I tell the agent I am a wholesaling (wanna-be)?

Just tell them you want to wholesale the property. Ideally you will also be able to tell them that you have a few prospects already.

@Sean T. 

Happy Holidays!

Happy Holidays Mike!

@Jason Yee 

I would highly recommend to attend your county's auction. I can describe a museum but you get a much better idea if you actually go to the museum and check out the art there. Make sure to not bid at your first auction :)

I am not an accountant and I am not an attorney. To get the thread started, I'll say that you can think of the subject to mortgage as built in financing for the purchase property. Do however, make sure that all expenses coming from the management of the property including paying the existing mortgage and the property management fees come out of the IRA and not from personal funds.